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The eBearing News
September 15, 2003
SKF Seeks Delisting From Three Exchanges
copyright © 2003 eBearing Inc.
SKF AB (Sweden), the world's largest bearing manufacturer, said it intends to delist itself from
three of the five equity exchanges where it now trades.
Currently, SKF B shares (each of which has 1/10 of a vote, vs. A shares which carry one full vote) are traded
on the London, Paris, Zurich, and Stockholm exchanges, while American Depository Receipts (ADRs) trade
on the U.S. NASDAQ (an ADR is a negotiable certificate issued by a U.S. bank; it represents a specific
number of shares of a foreign stock traded on a U.S. stock exchange).
Citing the globalization of trading and resulting low volumes on the secondary exchanges, SKF is seeking
approval to withdraw from all but two. The company said there is no longer a need for "local" exchange listings
for access to liquidity.
Stockholm (80%) and London (18%) carried virtually all of SKF's trading volume in 2002. Paris, Zurich and
NASDAQ, sharing the remaining 2%, are on plan for delisting.
SKF said it will not sever all U.S. equity market ties; it will keep B shares registered with the
U.S. Securities and Exchange Commission and will maintain its U.S. ADR facility.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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